Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Separately, HSBC dropped their price objective on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.98.
Get Our Latest Stock Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Stock Up 2.8 %
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last announced its earnings results on Monday, May 6th. The company reported $0.10 EPS for the quarter. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. Goodyear Tire & Rubber’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.29) earnings per share. Equities research analysts forecast that Goodyear Tire & Rubber will post 1.06 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Goodyear Tire & Rubber
Several hedge funds have recently made changes to their positions in GT. First Eagle Investment Management LLC lifted its position in Goodyear Tire & Rubber by 3.2% in the first quarter. First Eagle Investment Management LLC now owns 994,008 shares of the company’s stock worth $13,648,000 after purchasing an additional 31,100 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Goodyear Tire & Rubber by 27.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 115,130 shares of the company’s stock valued at $1,581,000 after buying an additional 24,587 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Goodyear Tire & Rubber by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 64,454 shares of the company’s stock worth $885,000 after acquiring an additional 2,901 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 1st quarter valued at about $136,000. Finally, Inspire Advisors LLC increased its stake in Goodyear Tire & Rubber by 16.3% in the first quarter. Inspire Advisors LLC now owns 14,865 shares of the company’s stock valued at $204,000 after acquiring an additional 2,086 shares during the period. Institutional investors own 84.19% of the company’s stock.
Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.
Recommended Stories
- Five stocks we like better than Goodyear Tire & Rubber
- 3 Monster Growth Stocks to Buy Now
- Roblox: The Bottom Just Fell Out of the Metaverse
- 3 Stocks to Consider Buying in October
- Airbnb Stock Plummets After Earnings, But is It a Buy?
- Dividend Payout Ratio Calculator
- Uber’s Earnings Drop Is Investors Opportunity
Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.